Guideline Value for ADHITHYARAM PROPERTIES

Adhithyaram Properties guideline value

The current guideline value of Adhithyaram Properties is Rs 1,700 per sq.ft, effective from 1 July 2024. This property is located in Uthandi village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Adhithyaram Properties has changed

The guideline value for Adhithyaram Properties has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,700 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a 13% increase, indicating fluctuations in the guideline value over the years.

Guideline values in Uthandi

Uthandi village has a diverse range of guideline values, with 197 streets under the Neelankarai SRO carrying a 2024 figure that ranges from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which matches the current guideline value for Adhithyaram Properties.

• Abimanyu Nadarajan Street: Rs 3,300 per sq.ft (2024)
• Abdul Kadir Garden: Rs 1,100 per sq.ft (2024)
• Amarar Jeevarathinam Street: Rs 1,100 per sq.ft (2024)
• Anbu Thottam: Rs 1,700 per sq.ft (2024)
• Anil Nagar Garden: Rs 1,700 per sq.ft (2024)
• Appadurai Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Adhithyaram Properties

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Adhithyaram Properties?

The Sub Registrar Office that covers Adhithyaram Properties is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Uthandi

The guideline value plays a crucial role in property transactions in Uthandi. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the transaction reflects the true market conditions and provides a basis for taxation.

Frequently asked questions

What is the current guideline value of Adhithyaram Properties?

The current guideline value of Adhithyaram Properties is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Adhithyaram Properties?

Adhithyaram Properties is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

How is stamp duty calculated for properties in Uthandi?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty at 7% would amount to Rs 1,19,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.